Despite the recession, Mike Adenuga's net worth increased by $2.7bn in 2016

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According to Forbes, last year 2016, Africa's biggest gainer in both dollar and percentage was Nigerian oil and telecommunications business man, Mike Adenuga.

It is understood that his net worth increased from $2.7 billion to $5.8 billion since December 31, 2015.

Adenuga was the only Nigerian billionaires whose net worth increased last year.

Meanwhile, Aliko Dangote, the richest Nigerian and Africa's richest man, saw his fortune drop by 28% to $12.4 billion over the course of 2016.